First ( to the newcomers)

Make sure you have a secure wallet set up to receive your Litecoins to. I recommend using a Paper wallet or the official Litecoin client.

I highly recommend you purchase a small amount first. Send it to your wallet, send it around, buy some small things, and get a feel for how to send and receive Litecoins to different wallets first. Once you're comfortable using the Litecoin network, then invest more.

I say this because Litecoin is decentralized and there's no head office or customer service desk to call if you make a mistake. If you make a boo boo, then it's bye bye to your coins! So that's why I recommend you make any mistakes with a small amount vs a large one.

Now lets get into the methods to buy Litecoin

1) Flagship Exchange

Pros

Instant exchange at current market ratesDeposit or withdraw funds right from bank

Cons

Must be 18+Need an accountSome require ID verificationSome have buy/sell limitsCould be hacked